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pariš¹
@pariw
/zora In April 2021, CyberKongz sold Genesis Kongz NFTs. The SEC treated these NFTs as securities and issued a Wells notice ā an official letter saying enforcement action is possible. CyberKongz has argued it was a contract migration not a primary sale, but the SECās stance shows the growing scrutiny of NFT securities in the broader Web3 space. This isnāt just about one project. Itās a test case. If the SEC treats these NFTs as securities, it will change the tokenomics, fundraising and community governance models of many blockchain gaming projects. CyberKongz has 30 days to respond and its defense will shape the broader conversation around digital gaming assets. Time is running out.
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